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MEDICAL EXECUTIVE-POST – TODAY’S NEWSLETTER BRIEFING

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Cardinal Health has agreed in principle to acquire Integrated Oncology Network for more than $1.1 billion.

And … Advocate Health announced it will wipe clean more than 11,500 judgment liens on patients’ homes and real estate.

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What’s up

• Flutter Entertainment, parent company of betting app FanDuel, popped 5.06% after it revealed its impressive growth plans.
• Hewlett Packard Enterprise rose 5.05% thanks to an upgrade from Barclays analysts who think that rising AI demand will increase the company’s server revenue.
• Trump Media & Technology Group gained 10.48% after shareholders panicked that the end of its lockup period would mean big selling by insiders, fears that haven’t materialized.
• Progress Software climbed 11.85% after a strong beat-and-raise earnings report.

What’s down

• Southwest Airlines stumbled 4.57% after announcing it will cut service to and from Atlanta, a major hub for air travel, as it looks to save money ahead of a showdown with activist investor Elliott Investment Management.
• Bank of America fell just 0.51% on the revelation that Warren Buffett can’t stop selling the stock.
• KB Home sank 5.35% after the homebuilder beat revenue estimates but missed on earnings. It also issued a downbeat forecast for the rest of its fiscal year.
• Global Payments dropped 6.37% thanks to a downgrade from BTIG analysts who were unimpressed by the payment provider’s near-term growth plans.

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• The S&P 500^® index (SPX) fell 10.68 points (–0.19%) to 5,722.25; the Dow Jones Industrial Average^® ($DJI) dropped 293.47 points (–0.70%) to 41,914.75; the NASDAQ Composite^® ($COMP) added 7.68 points (0.04%) to 18,082.21.
• The 10-year Treasury note yield (TNX) climbed five basis points to 3.78% and seems stuck in a range between 3.7% and 3.8%.
• The CBOE Volatility Index^® (VIX) rose slightly to 15.51, still near its September lows.

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Coca-Cola pulled its new flavor, Spiced, from shelves after just six months because of dis-interest in it.

Visa was sued by the Justice Department for antitrust violations. The DOJ alleged in a complaint filed in Manhattan federal court that the payments giant is illegally monopolizing the debit card market by penalizing merchants who try to use alternatives, Bloomberg reported.

For the first time in more than a decade, the nationwide number of people with obesity hasn’t gone up, according to new CDC data showing that the condition appears in about 40% of US adults.

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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